What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian digital investing, securities and crypto trading platform that distinguishes itself from the competition by charging no fees.
A leading Canadian online financial services business launched in the Autumn twenty fourteen exclusively as a robo-advisor trading app called Wealthsimple Invest, it has changed significantly over the last 8 years to include Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows consumers trade both stand alone stocks and also ETFs without needing to pay commissions. The exception to this is when you’re trading securities which are listed in USD. In this case, they charge a small currency conversion fee when buying and selling. However, behind us are the times of paying more than $7 per each trade with digital discount brokerages as was normal a few years past.
How Much Money Will I Need in Order to Get Started With Wealthsimple Trade?
Wealthsimple is awesome in that they will allow Canadian investors to make a minimum deposit of just $1. The majority of traditional banks and brokerages have quite large initial deposit amounts of $1,000-$5,000. This makes it difficult for the common investor to start investing. With Wealthsimple Trade, you won’t have to be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Offer Registered Accounts?
Yes. Wealthsimple Trade has CRA registered and non-registered account types. You may select between both RRSP and TFSA account types in the setup process.
But Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a well designed mobile app offered to download on both IOS and also Android. The smartphone app makes the signup phase and trading of stocks and ETFs super a breeze.
But Is Wealthsimple Trade Trustworthy?
Definitely. Wealthsimple Trade is secure. Wealthsimple reports over 15 billion CAD in Assets Under Management . These folks have been expanding for more than 7 years and at this time employs over 600 folks. The majority owner is the respected publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fees online discount brokerage to operate in Canada.
How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite simple to fund your account. Simply connect to a chequing or savings account with your Trade account, then add money to your account in only a few clicks. Deposits from your bank to Wealthsimple usually take only a couple of days. Funds can also be moved back to your chequing or savings account with the same steps.
What Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is alternative to E-transfers which allows one to quickly and simply transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for tax year and submit your taxes online free. It’s described to be simple, accurate and always totally free tax filing.
Wealthsimple Spend – A combination pre paid visa and savings account that allows one to get 1% cashback on all your purchases, and also get a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform which includes a variety of online courses on topics like saving, investments, crypto, mortgages and more.
Every one of the above features, along with Wealthsimple Trade may be found within the mobile app and from the site with a single login.
But How do I Begin With Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. For a special signup bonus offer to our audience you’ll get the cash value of a random stock worth up to $4,500 CAD once you make an initial deposit to your account.
What if I Still Have Questions Concerning Joint Rrsp Wealthsimple?
If this review hasn’t given you the answers to all of your questions, and you’re searching for additional information relating to Joint Rrsp Wealthsimple, visit the Wealthsimple site for answers to each your questions.